(MENAFN - AzerNews) By Rashid Shirinov
Azerbaijan's National Fund for Entrepreneurship Support (NFES) has started receiving investment projects on priority development areas of Saatli region.
Following the business forum in Tazakend village of Ismayilli region, the NFES has launched accepting entrepreneurs' proposals for financing investment projects on creation of large sowing and horticultural farms, small greenhouses, farms of livestock breeding, as well as milk processing and bread production enterprises, the Economy Ministry reported on August 7.
Entrepreneurs can apply to the Fund through authorized credit organizations, in accordance with the rules for using the funds of the NFES. At the request of entrepreneurs, small projects can be fully financed through concessional loans.
The NFES, created in 1992, issues loans to entrepreneurs through authorized banks and non-bank lenders. During the first half of the year, the Fund contributed to the creation of 2,300 new jobs in Azerbaijan.
The main goal of NFES is to provide preferential loans from the state budget for small and medium business, in order to develop entrepreneurship in the country.
In general, about 150 million manats ($89 million) will be issued for granting preferential loans to entrepreneurs in Azerbaijan until the end of 2017.
Rashid Shirinov is AzerNews' staff journalist, follow him on Twitter:
Follow us on Twitter